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Dec 31, 2025
Amerisafe Q4 2025 Earnings Report
Amerisafe Q4 2025 Earnings Report
Key Takeaways
Amerisafe reported a decrease in net income for Q4 2025 despite a 10.7% increase in net premiums earned. The results were impacted by higher-than-anticipated loss severity in the current accident year, leading to an increase in the loss ratio, though the company maintained a strong return on equity of 18.5% for the full year.
Gross premiums written increased 11.7% to $70.1 million in Q4 2025 compared to Q4 2024.
Net income fell 21.0% to $10.4 million, primarily due to higher loss and loss adjustment expenses.
The current accident year loss ratio was increased to 72.0% for the full year due to observed frequency of severity.
The Board of Directors increased the regular quarterly cash dividend by 5.1% to $0.41 per share.
Revenue by Segment
Forward Guidance
Management remains focused on profitable underwriting through safety services and diligent risk selection despite market headwinds.
Positive Outlook
- Seven consecutive quarters of premium growth.
- Strong premium retention and consistent new business production.
- Stabilizing controllable costs improving operating scale.
- Increased quarterly dividend reflecting capital strength.
- Proactive claims management leading to favorable prior year development.
Challenges Ahead
- Headwinds from rate declines in the workers' compensation market.
- Heavy competition in high-hazard industries.
- Higher-than-anticipated loss severity in the 2025 accident year.
- Decrease in average investable assets impacting annual investment income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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